Delaware Home Prices Surged Over the Summer

Low interest rates, low prices and a rising sense of urgency among buyers are driving a renewed momentum in Delaware’s residential real estate market this summer, sustaining a sense that the long-awaited recovery of the housing market is now under way.

Compared to August 2011, single-family home sales last month were up 14.9 percent in New Castle County, 15.1 percent in Kent, and 32.9 percent in Sussex, according to data from Trend MLS and the Sussex County Association of Realtors.

“They usually say recovery is two steps. First, sales – and we’re seeing sales coming up – then prices,” said Eric Braunstein, a Patterson-Schwartz & Associates Realtor and president of the New Castle County Board of Realtors.

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